Abramovich puts Chelsea up for sale

Roman Abramovich has put Chelsea FC up for sale as the Russian billionaire looks to cash out amidst sanctions against his country by Western nations.

After the club denied reports of Abramovich wanting to sell the club, the Telegraph now report that the Russian-born has put the club up for sale, with an American-based merchant bank, who claim they are in charge of the sale, contacting potential buyers.

Chelsea haven’t responded to claims that the club is now for sale, as Abramovich eyes a £4 billion sale.

He is currently owed £1.5 billion in debt by Chelsea, with sources close to the process, as per the Telegraph, believing that only bids of around £2 billion will be lodged.